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| KNOWLEDGE FINANCIAL GROUP/ KNOWLEDGEFINANCIAL.COM AN ABSOLUTE GUIDE TO INVESTMENT SUCCESS - A SUPPORT LIBRARY FOR ENTREPRENEURS, INVESTORS, BUSINESS PEOPLE AND TRADERS. KNOWLEDGEFINANCIAGROUPL.COM |
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| The benefits to children becoming financially literate are priceless. The gift that keeps on giving, is helping our youth become smart money kids who grow up to be financially savvy adults. ------------- I personally encourage parents, grand parents, relatives to open for the child/children an investment account, brokerage account, a stock account,{Custodial Account} The power of compound interest will play in favor of the child. - Dollar- Cost Averaging works well for those who take advantage of it. Dividend Reinvesting Plan is a benediction while building wealth. |
UGMA/UTMACustodial account, sometimes called a UTMA/UGMA account, is a
brokerage account for investing in stocks, bonds, mutual funds, and more.
It can be a great way to save on the child's behalf, or to give a financial gift. The
money in this account belongs to the child.
This custodial account is: Considered the minor's assetTransferred to the
minor at a certain age (between 18–25)Made with after-tax money, though there
are tax benefitsA brokerage account for investing - Factored into financial aid
eligibility -
A way to directly transfer wealth.The custodian can invest in full range of
investments, including stocks, options, mutual funds, bonds, CDs, and
fractional shares.
brokerage account for investing in stocks, bonds, mutual funds, and more.
It can be a great way to save on the child's behalf, or to give a financial gift. The
money in this account belongs to the child.
This custodial account is: Considered the minor's assetTransferred to the
minor at a certain age (between 18–25)Made with after-tax money, though there
are tax benefitsA brokerage account for investing - Factored into financial aid
eligibility -
A way to directly transfer wealth.The custodian can invest in full range of
investments, including stocks, options, mutual funds, bonds, CDs, and
fractional shares.
| KNOWLEDGE FINANCIAL GROUP - VISIONONE HOLDING COMPANY -- AND FEMKONSA CAPITAL INVESTMENT do not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. -------- Tax laws and regulations are complex and subject to change, which can materially impact investment results. ------------ We cannot guarantee that the information herein is accurate, complete, or timely. Fidelity makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. ------------ Consult an attorney or tax professional regarding your specific situation. Risk Disclosure: Trading of stocks and all other investment products involves substantial risk of loss and is not suitable for every investor. The value of stocks may fluctuate and as a result, clients may lose more than their original investment. --------------- Options involve risks and are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. ------------- Important Disclosures: Investing involves risk, including loss of principal. Past performance does not guarantee or indicate future results. Please consider, among other important factors, your investment objectives, risk tolerance and Acorns pricing before investing. Diversification and asset allocation do not guarantee a profit, nor do they eliminate the risk of loss of principal. ------------ |
| Custodial accounts help adults save and invest money on behalf of a minor—until the minor reaches a certain age when the account must be transferred to them. Money put into a custodial account is an irrevocable gift to the minor named as beneficiary on the account—the custodian must ensure that it is invested or used for the minor's benefit.Between the age of 18 and 25 (it varies by state) legal control of the account must be turned over to the beneficiary, who can then use the money for any purpose they choose. Looking for a convenient way to manage a child's money until they grow up? Whether the money comes from gifts, an inheritance, or earnings, a custodial account is one way to save and invest for a minor. Money put into these types of accounts becomes the property of the minor and can only be used for their benefit. The state legislation that allows for gifts to minors is the Uniform Gifts to Minors Act or the Uniform Transfers to Minors Act (UGMA/UTMA) |
| There are several types of custodial accounts. A Roth IRA for Kids allows an adult to save a minor's earned money in a retirement account that lets earnings grow tax-free as long as the money stays in the account. If the money is withdrawn before age 59½ without qualifying for an exception, there may be taxes and penalties due. Like all custodial accounts, the minor will take control of the account when they reach the specified age in their state. Learn more by reading: Turbocharge your child's retirement with a Roth IRA for Kids A custodial 529 account is very similar to a traditional 529 account. The key difference is that the beneficiary on a custodial account cannot be changed. There may be tax advantages when money in a 529 account is used for qualified educational expenses but there may be taxes and penalties due if the money is used for other purposes. For financial aid purposes, custodial 529 accounts are considered parent-owned assets, and have a minimal impact on financial aid calculations. Read Viewpoints on Fidelity.com: The ABCs of 529 savings plansThe Coverdell ESA is also a custodial education savings account. They have a $2,000 annual contribution limit. There is also an income cap which can limit who can contribute to one of these accounts.UGMA/UTMA brokerage accounts are taxable investment accounts with no contribution limits. These accounts offer no tax benefits at the time the contribution is made and realized earnings like interest and dividends are taxable. UGMA/UTMA brokerage account offers comprehensive trading and a wide range of investments, including stocks, bonds, mutual funds, exchange-traded funds, options, CDs, and more. UGMA/UTMA brokerage account considerationsUGMA/UTMA brokerage accounts can make sense when saving and investing on behalf of a minor, but there are some important things to know about the accounts. Irrevocable gift Money put into a custodial account belongs to the beneficiary—it's called an irrevocable gift. At the age of majority, the custodian (often a parent) must transfer control to the beneficiary. At that point, they can do whatever they want with the money.The gift tax may be a consideration There's no limit to the amount you can put into an UGMA/UTMA. But gifts to an individual above $15,000 a year typically require a form to be completed for the IRS. Also, any amount in excess of $15,000 in a year must be counted toward the individual's lifetime gift-tax exclusion limits (the federal lifetime limit is $11.58 million per individual in 2020). |
| Custodial account features... When must a custodial account be transferred? Custodians have to transfer the account to minors by the age of termination. In many states, it's the age of 18, but it may be as late as 25. If you choose an age of termination greater than 21, there are important tax considerations that should be evaluated. Consult an attorney or tax advisor to discuss your options. Who can contribute? Anyone can contribute to a custodial account, including parents, grandparents, friends, and other family. This makes it useful as gifts for major milestones and celebrations. Are there contribution requirements? There's no maximum contribution limit. There's also no minimum to open an account, through certain investments may require a minimum initial investment. What are the tax benefits of a custodial account?A portion (up to $1,100) of any earnings from a custodial account may be exempt from federal income tax, and a portion (up to $1,100) of any earnings in excess of the exempt amount may be taxed at the child's tax rate, which is generally lower than the parent's tax rate. Up to $15,000 per individual ($30,000 for a married couple) can be contributed free of gift tax in 2020. |
| Let your money work for you and for your family. Pay yourself first by dropping even a small percentage of your earned income into an investment account. Focus on balance life through wealth creation. Financial literacy is the main ingredient in the recipe of wealth creation for financial independence and economic freedom. ======== Knowledge Financial Group: here are the most common types of income... Dividend Income: Income from stocks - Rental Income: Income from rental properties - Capital Gains Income: Income from investments - Earned Income: Income from a job -Profit Income: Income from buying and selling stuffs - Interest Income: From lending money to others - Royalty Income: Income from prior work or investment -------------- '' facebook.com/financialschool '' facebook.com/visiononeholding '' facebook.com/knowledgefinancialgroup '' facebook.com/visiononerealestates '' facebook.com/realestateworldclass '' facebook.com/Antonyrealestate '' facebook.com/visionairerealestate --------- |
KNOWLEDGEFINANCIALGROUP.COM
' Custodial Account:
A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the
benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a
fiduciary obligation to the beneficiary. LEARN MUCH MORE BELOW...
A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the
benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a
fiduciary obligation to the beneficiary. LEARN MUCH MORE BELOW...
| A custodial account is a savings account, or an investment account, a trust account set up and administered by an adult for a minor child. Custodial accounts have enormous flexibility with no income or contribution limits, or withdrawal penalties. Custodial accounts do not require distributions at any point. Gifts to a custodial account are irrevocable. The account's holdings irrevocably pass into the minor's control when they come of age depending on their state of residence. |
| As noted above, custodial accounts can invest in a variety of assets. However, the financial institution probably won't allow the manager to use the account to trade on margin or buy futures, derivatives, or other highly speculative investments. Once the minor reaches the legal age of adulthood in their state, control of the account officially transfers from the custodian to the named beneficiary, at which point they claim full control and use of the funds. Should the minor die before reaching majority, the account will become part of the child's estate |
| Advantages of Custodial Accounts Custodial accounts have enormous flexibility. There are no income or contribution limits, and no requirements to make regular distributions at any point. Also, there are no withdrawal penalties. While all withdrawn funds are restricted to being used "for the benefit of the minor," this requirement is vague and is not limited to educational costs, as with college savings plans. The custodian may use the funds for everything from providing a place to live or paying for clothing as long as the beneficiary receives a benefit. A custodial account is much simpler and less expensive to establish than a trust fund. The aim of both UGMA and UTMA regulations was to allow adults to transfer assets to minors without the need to establish a special trust to enable such ownership. Tax Advantages While not tax-deferred, as are IRAs, custodial accounts do have some tax advantages. The IRS considers the minor child the owner of the account, so the earnings in it are taxed at the child's tax rate. Every child under 19 years old—24 for full-time students—who files as part of their parents’ tax return is allowed a certain amount of “unearned income” at a reduced tax rate |
| '' Investment Seminar - '' Investment Account - '' Investment Conference - '' Custodial Account - '' Brokerage Account - '' Real Estate Seminar - |
| Knowledge Financial Group is bringing sound financial information to make people become Brighter - Smarter And Better Investors |
The Coverdell ESA is also a custodial
education savings account. They have a
$2,000 annual contribution limit.
There is also an income cap which can limit who can
contribute to one of these accounts.
UGMA/UTMA brokerage accounts are taxable investment
accounts with no contribution limits.
These accounts offer no tax benefits at the time the
contribution is made and realized earnings like interest
and dividends are taxable.
The UGMA/UTMA brokerage account offers
comprehensive trading and a wide range of investments,
including stocks, bonds, mutual funds, exchange-traded
funds, options, CDs, and more.
UGMA/UTMA brokerage account
considerations
UGMA/UTMA brokerage accounts can make sense when
saving and investing on behalf of a minor, but there are
some important things to know about the accounts.
Irrevocable gift
Money put into a custodial account belongs to the
beneficiary—it's called an irrevocable gift. At the age of
majority, the custodian (often a parent) must transfer
control to the beneficiary. At that point, they can do
whatever they want with the money.
The gift tax may be a consideration
There's no limit to the amount you can put into an
UGMA/UTMA. But gifts to an individual above $15,000 a
year typically require a form to be completed for the IRS.
Also, any amount in excess of $15,000 in a year must be
counted toward the individual's lifetime gift-tax exclusion
limits (the federal lifetime limit is $11.58 million per
individual in 2021).
education savings account. They have a
$2,000 annual contribution limit.
There is also an income cap which can limit who can
contribute to one of these accounts.
UGMA/UTMA brokerage accounts are taxable investment
accounts with no contribution limits.
These accounts offer no tax benefits at the time the
contribution is made and realized earnings like interest
and dividends are taxable.
The UGMA/UTMA brokerage account offers
comprehensive trading and a wide range of investments,
including stocks, bonds, mutual funds, exchange-traded
funds, options, CDs, and more.
UGMA/UTMA brokerage account
considerations
UGMA/UTMA brokerage accounts can make sense when
saving and investing on behalf of a minor, but there are
some important things to know about the accounts.
Irrevocable gift
Money put into a custodial account belongs to the
beneficiary—it's called an irrevocable gift. At the age of
majority, the custodian (often a parent) must transfer
control to the beneficiary. At that point, they can do
whatever they want with the money.
The gift tax may be a consideration
There's no limit to the amount you can put into an
UGMA/UTMA. But gifts to an individual above $15,000 a
year typically require a form to be completed for the IRS.
Also, any amount in excess of $15,000 in a year must be
counted toward the individual's lifetime gift-tax exclusion
limits (the federal lifetime limit is $11.58 million per
individual in 2021).
--- Custodial account features...
When must a custodial account be
transferred?
Custodians have to transfer the account to minors by the
age of termination. In many states, it's the age of 18, but it
may be as late as 25.
If you choose an age of termination greater than 21,
there are important tax considerations that should be
evaluated.
Consult an attorney or tax advisor to discuss your
options.
----------------
Who can contribute?
Anyone can contribute to a custodial account, including
parents, grandparents, friends, and other family. This
makes it useful as gifts for major milestones and
celebrations.
----------------
Are there contribution
requirements?
There's no maximum contribution limit. There's also no
minimum to open an account, through certain
investments may require a minimum initial investment.
----------------
What are the tax benefits of a
custodial account?
A portion (up to $1,100) of any earnings from a custodial
account may be exempt from federal income tax, and a
portion (up to $1,100) of any earnings in excess of the
exempt amount may be taxed at the child's tax rate,
which is generally lower than the parent's tax rate.
Up to $15,000 per individual ($30,000 for a married
couple) can be contributed free of gift tax in 2020.
When must a custodial account be
transferred?
Custodians have to transfer the account to minors by the
age of termination. In many states, it's the age of 18, but it
may be as late as 25.
If you choose an age of termination greater than 21,
there are important tax considerations that should be
evaluated.
Consult an attorney or tax advisor to discuss your
options.
----------------
Who can contribute?
Anyone can contribute to a custodial account, including
parents, grandparents, friends, and other family. This
makes it useful as gifts for major milestones and
celebrations.
----------------
Are there contribution
requirements?
There's no maximum contribution limit. There's also no
minimum to open an account, through certain
investments may require a minimum initial investment.
----------------
What are the tax benefits of a
custodial account?
A portion (up to $1,100) of any earnings from a custodial
account may be exempt from federal income tax, and a
portion (up to $1,100) of any earnings in excess of the
exempt amount may be taxed at the child's tax rate,
which is generally lower than the parent's tax rate.
Up to $15,000 per individual ($30,000 for a married
couple) can be contributed free of gift tax in 2020.
----- Let your money work for you and
for your family.
Pay yourself first by dropping even a small percentage of
your earned income in an investment account.
Focus on balance life through wealth creation. Financial
literacy is the main ingredient in the recipe of wealth
creation for financial independence and economic freedom.
========
Knowledge Financial Group. here are
the most common types of income...
Dividend Income: Income from stocks -
Rental Income: Income from rental properties -
Capital Gains Income: Income from investments -
Earned Income: Income from a job -
Profit Income: Income from buying and selling stuffs -
Interest Income: From lending money to others -
Royalty Income: Income from prior work or investment -
-------------
facebook.com/ financialschool
facebook.com/visiononeholding
facebook.com/knowledgefinancialgroup
-----------
facebook.com/visiononerealestates
facebook.com/realestateworldclass
facebook.com/Antonyrealestate
facebook.com/visionairerealestate
---------
for your family.
Pay yourself first by dropping even a small percentage of
your earned income in an investment account.
Focus on balance life through wealth creation. Financial
literacy is the main ingredient in the recipe of wealth
creation for financial independence and economic freedom.
========
Knowledge Financial Group. here are
the most common types of income...
Dividend Income: Income from stocks -
Rental Income: Income from rental properties -
Capital Gains Income: Income from investments -
Earned Income: Income from a job -
Profit Income: Income from buying and selling stuffs -
Interest Income: From lending money to others -
Royalty Income: Income from prior work or investment -
-------------
facebook.com/ financialschool
facebook.com/visiononeholding
facebook.com/knowledgefinancialgroup
-----------
facebook.com/visiononerealestates
facebook.com/realestateworldclass
facebook.com/Antonyrealestate
facebook.com/visionairerealestate
---------
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| ''Visionone Holding Company, INC. How To Invest - Where To Invest - When To Invest - What To Invest In? Visionone Holding Pages Is A Complete Guide Of Investment Methods - Techniques & Strategies... -------------- ----------------- ----------- Fem Konsa - - - Vision Gas - - - Visionone Capital - - - Visionone Real Estate - - - Visionairebiz - - - |
UTMA accounts can hold virtually any kind of
asset, including real estate, intellectual
property, and works of art.
UGMA accounts are limited to financial assets of cash, securities—
stocks, bonds, or mutual funds—annuities, and insurance policies.
All U.S. states allow UGMA accounts. However, South Carolina
does not allow UTMA accounts.
Both UTMA and the older version UGMA have
custodial accounts set up in the minor's
name, with a designated custodian—usually the child's parent or
guardian. Initial investments, minimum account balances, and
interest rates vary by the company that houses the account.
Functioning of a Custodial Account
Once established, a custodial account functions like any other
account at a bank or brokerage. The custodian—a designated
manager or investment advisor—decides how to invest the
money. The account manager—or other entities—can continue to
contribute to the fund.
As noted above, custodial accounts can
invest in a variety of assets. However, the financial
institution probably won't allow the manager to use the account to
trade on margin or buy futures, derivatives, or other highly
speculative investments.
Once the minor reaches the legal age of adulthood in their state,
control of the account officially transfers from the custodian to the
named beneficiary, at which point they claim full control and use of
the funds. Should the minor die before reaching majority, the
account will become part of the child's estate.
asset, including real estate, intellectual
property, and works of art.
UGMA accounts are limited to financial assets of cash, securities—
stocks, bonds, or mutual funds—annuities, and insurance policies.
All U.S. states allow UGMA accounts. However, South Carolina
does not allow UTMA accounts.
Both UTMA and the older version UGMA have
custodial accounts set up in the minor's
name, with a designated custodian—usually the child's parent or
guardian. Initial investments, minimum account balances, and
interest rates vary by the company that houses the account.
Functioning of a Custodial Account
Once established, a custodial account functions like any other
account at a bank or brokerage. The custodian—a designated
manager or investment advisor—decides how to invest the
money. The account manager—or other entities—can continue to
contribute to the fund.
As noted above, custodial accounts can
invest in a variety of assets. However, the financial
institution probably won't allow the manager to use the account to
trade on margin or buy futures, derivatives, or other highly
speculative investments.
Once the minor reaches the legal age of adulthood in their state,
control of the account officially transfers from the custodian to the
named beneficiary, at which point they claim full control and use of
the funds. Should the minor die before reaching majority, the
account will become part of the child's estate.